Biggest Financial Problems of Recent USMMA Grads

I’m looking to help recent merchant marine grads make the most of their life by making all their finances efficiently work together but need to some feedback as to what is their biggest problems that need solving. Specifically looking to hear from recent graduates who are still in their 20s.

I’ve got a few family members who have graduated from Kings Point within the last decade and have talked to them about some of the struggles of these graduates. On paper they make a pretty great living coming out of school as officers or engineers especially in the private sector. Miami seems to be a pretty popular destination with near 6 figure pay.

What has been the biggest struggle you’ve faced after graduating from Kings Point? You don’t have any student debt since you’ve been handpicked to join the academy. You guys can’t be on a ship for more than half the year. What job did you get right after school and was the pay pretty good? Do your pay checks come in regularly throughout the year or just when you are on the ship working? What do you think the outlook of your job is?

One thing that I have heard is its a really hard life when you have a family that you come home to. In your 20s though, the focus is more on partying it up while the ship is docked. A good number of grads just couldn’t handle life at sea and moved to different areas of the industry.

Any feedback and thoughts are greatly appreciated!